The government is planning to set up a Rs 2,000-crore corpus fund for the pharma industry, said Pharmaceuticals Secretary Ashok Kumar today.
"The fund would be set up with the help of the government and the industry. It will be used for helping the pharma industry in R&D," he added.
Another official from the Ministry added that the money would be raised from the disinvestment of Central PSUs. "It will be a joint venture between the government and the industry. The government will find the money from the proceeds of the divestment in CPSUs. The rest of the amount would come from the industry," Pharmaceuticals Joint Secretary Devendra Choudhry said.
"The fund formation will be a reality within next three years. How the industry will invest the money, whether it will be on a project basis or as an investment, remains to be worked out," he added.
"The government is also planning to rope in venture funds as well to make them a part of the project. Within two months the government will start the preliminary work of the fund," he added.